Maybe it was the warm weather, but the U.S economy experienced an annual growth rate of 3.5% from July through September, effectively outpacing most of the other developed countries in the world.

The third-quarter growth saw significant gains in business investment, exports and the largest increase in military spending in five years. It followed a 4.6% annualized expansion from Q2, which experienced an impressive reversal from the first quarter of 2014, when a harsh winter apparently depressed activity.

Many economists opine that important decisions by government agencies, particularly the Federal Reserve, are now paying off in terms of economic strength. The improving economy led the Fed to recently cease its stimulative bond buying program, which began during the 2008 financial crisis in an attempt to revive a moribund economy by buying trillions of dollars in bonds to reduce long-term interest rates. The report on the gross domestic product (GDP), the economy’s total output of goods and services, added credence that the Fed’s efforts have translated into continuing job growth and economic recovery.

In an article appearing in The Washington Postfrom the Associated Press, Doug Handler, chief U.S. economist at IHS Global Insight, stated, “’Its greatest impact was instilling confidence in consumers and the business community that Fed officials were determined to do everything they could to stimulate growth. To know you have the Fed pulling for you instills confidence.’”

Dan Greenhaus, an analyst with investment firm BTIG, added, “’The economy does appear to be accelerating of late”, adding that the GDP report showed an economy that is “’on a sounder footing today than at any time over the last few years.’”

The Post article avers “It’s American consumers who drive the U.S. economy. They account for nearly 70 percent of the economy, and things are looking up for them. The job market is healthier than it’s been in a while, with the unemployment rate at a six-year low of 5.9 percent. And falling gas prices frees up money for consumers to spend on other things that help fuel growth.”

In the same news report, Sung Won Sohn, an economics professor at the Martin Smith School of Business at California State University, claimed “compared with other major economies, the U.S. moved more quickly to bolster its banking system. And consumers’ finances are in better shape because many Americans have pared debt. ‘The problem in Europe is that they let the problems fester and get worse because they did not act as quickly as we did.’”

James Marple, senior economist at TD Bank Group, cautions that, “’Going forward, the appreciation in the U.S. dollar and slow growth in Europe and Asia are likely to once again make trade a net-drag on American economic growth.’”

Despite the improving economy, at Client First Bankruptcy we know that many Americans are still unemployed, underemployed or forced to work multiple jobs. If you are contemplating filing for a Chapter 7 or Chapter 13 personal bankruptcy due to continued unemployment, do not proceed without an experienced and knowledgeable bankruptcy attorney from Client First Bankruptcy at your side. For your free initial consultation, please call us toll-free at 800-383-6004; we answer our phone 8:30 a.m.-6:00 p.m. Central Time for your convenience. And log onto www.clientfirstbankruptcy.com for important information about your personal bankruptcy anytime.

Cynthia Smiley, wife of former Arvest banker H. Dennis Smiley Jr., has filed Chapter 7 bankruptcy in the Western District of Arkansas. Mrs. Smiley filed her bankruptcy individually, claiming that most of the $2.29 million in debts she is seeking to discharge are related to her businesses.

According to an article by Kim Souza for www.thecitywire.com, Mrs. Smiley lists her profession as a self–employed Realtor and decorator with $0 monthly income. She lists other business income of $2,441 per month. For tax year 2014 she claimed $19,535 in gross income from real estate sales and decorating fees; she earned $7,467 in 2013 and $3,280 in 2012.

Co–debtors listed in Cynthia Smiley’s bankruptcy filing include her husband; Design for the Home LLC, a business entity of the couple; her father–in–law Henry Dennis Smiley Sr. and HDS Holdings.

Major creditors include: Arvest Bank, Bank of America, American Express Credit Card, Bank of Arkansas, Capital One Bank/Saks, Centennial Bank, Citibank Credit Cards, Community First Bank, Dillards Credit Card, First Federal Bank, First Security Bank (debt paid in full with sale of debtor’s home), First State Bank of Lonoke, First State Bank of Russellville, First State Bank of NWA , First State Bank of, Integrity Bank, Legacy National, Neiman Marcus Credit Card, Sears Credit Card, Security Bankcard Center, Signature Bank of Arkansas, Simmons First Bank and United Bank.

The bankruptcy filing reveals that the Smiley’s home in Pinnacle Country Club was sold in September, with Arvest Bank and First Security Bank receiving payments for release of the second lien on the home.

The back-story from the news report: “H. Dennis Smiley Jr. was forced to retire as president of Arvest Bank-Benton County in March when possible loan fraud was discovered. Smiley reportedly borrowed an estimated $4.5 million from more than a dozen Arkansas banks dating back to 2009, according to Uniform Commercial Code filings with Arkansas Secretary of State. There are numerous civil lawsuits pending against Smiley and her husband in Benton County. Trial dates for those hearings will be set in the spring of 2015. Criminal investigations against Dennis Smiley for bank fraud continue, but no charges have yet been filed.”

Bankruptcy fraud is a federal crime. The attorneys at Client First Bankruptcy take their obligation seriously. Our attorneys approach each case with care and precision and we request relevant documentation to be able to protect its clients from allegations like these. Don’t go to less experienced or less careful attorneys who try to sell you on ‘fast relief’ or ‘speedy filings’. Haste often leads to bigger problems than those that caused the client to seek representation in the first place.

The Client First Bankruptcy attorneys are among the most knowledgeable consumer bankruptcy attorneys in the country, representing thousands of clients in consumer bankruptcy cases. Call us toll-free at 800-383-6004 Monday thru Friday from 8:30 a.m.-6:00 p.m. Central Time. You can also log onto our easy-to-navigate, interactive website at www.clientfirstbankruptcy.com 24/7 for timely and accurate information on filing your Chapter 7 or Chapter 13 bankruptcy.

The attorneys at Client First Bankruptcy remind everyone that a criminal indictment contains only charges and is not evidence of guilt. Each defendant is presumed innocent and is entitled to a fair trial at which the government has the burden of proving guilt of each defendant beyond a reasonable doubt.

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